By Ruth Abbey Gita-Carlos | Philippine News Agency
President Ferdinand R. Marcos Jr. presided over a meeting with the Private Sector Advisory Council (PSAC) to discuss measures to cushion the impact of oil price fluctuations on the air transport sector.
During the meeting, President Marcos Jr. and PSAC identified several measures to mitigate the immediate effects of rising fuel costs on air transport, according to a Presidential Communications Office (PCO) statement on Thursday.
The President wants to ensure affordability, operational stability, and minimal disruption to mobility and supply chains, according to the statement.
“President Marcos [Jr.] also underscored the administration’s commitment to work closely with the aviation sector in pursuing other measures to secure a steady supply of oil and fuel amidst global tightening and to cushion the impact of price increases to the traveling public,” it said.
The Department of Transportation (DOTr) briefed President Marcos Jr. on the Civil Aeronautics Board’s (CAB) adoption of a 15-day airfare price monitoring and implementation cycle for the imposition of passenger and cargo fuel surcharges on domestic and international flights.
The CAB’s latest move is aligned with the Chief Executive’s recent directive to create a more responsive mechanism to jet fuel price volatility and help temper fare adjustments.
The Civil Aviation Authority of the Philippines (CAAP) also approved the reduction of passenger service and airport navigation charges in government-operated airports.
The initiative aims to provide temporary cushioning for airlines and passengers as a result of a gradual increase in airfare prices and the granting of temporary relief to businesses. (PNA)
